Truist Bank CD Rates – Earn 0.05%

Truist Bank considerably favors the investors, in terms of high fixed returns. For terms between 7 and 31 days, a minimum deposit of $2,500 is required. For terms between 32 days and 60 months (5 years), only a minimum deposit of $1,000 is required. 

The detailed perspective relevant to the certificate of deposits is described below;

Truist Bank CD Rates Offers

authentic CD rates terms and offers by Truist Bank are;

7-Month CD Term

• APY: 4.50%
• Minimum Deposit: $1,000

Considerations:

• Choose the CD term based on your financial goals and timeline.
• Assess the minimum deposit requirements and select a tier that suits your investment amount.

Pros & Cons

12-Month CD Term

• APY: 4.00%
• Minimum Deposit: $1,000

Considerations:

• Be aware of early withdrawal penalties; consider your liquidity needs before committing to a specific term.

Pros & Cons

Are Truist Bank CD Rates Competitive?

Truist Bank’s CD rates demonstrate a competitive edge in the market, particularly with its 7-Month and 12-Month terms.

The 4.50% APY for the 7-month term and 4.00% APY for the 12-month term, applicable to all deposit sizes, stand out as attractive rates, potentially offering higher returns compared to other financial institutions.

Additionally, the minimum deposit requirements, ranging from $2,500 for shorter terms to $1,000 for terms up to 60 months, provide accessibility to a broad range of investors.

The absence of monthly maintenance fees and automatic renewal features add further appeal to Truist CDs.

However, potential objections include the existence of early withdrawal penalties, limiting the flexibility of investors, and the fact that the 12-month term requires a more extended commitment compared to the 7-month term.

Before making any choice, investors should carefully weigh these factors against their financial goals and risk tolerance when considering Truist Bank’s CD offerings.

Overview Truist Bank

Truist is a top 10 U.S. commercial bank headquartered in Charlotte, North Carolina. Formed in the 2019 merger of SunTrust and BB&T, Truist offers a wide range of financial services including:

• Retail
• Commercial Real Estate
• Payments
• Small Business
• Corporate and Institutional Banking
• Specialized Lending
• Asset management
• Insurance
• Wealth Management
• Capital Markets
• Mortgage

Are Truist Bank CDs the Best Option for Savers?

Truist offers safe, FDIC-insured CD accounts with guaranteed rates. Their early withdrawal fees are reasonable, and as long as you see the CD through to term, you won’t incur any additional fees.

Truist CD Details You Should Know

If the duration of a CD is less than 32 days, there is a one-day grace period after the renewal date wherein the customer can change the term of the CD.

If the duration of a CD is greater than 32 days, there is a ten-day grace period after the renewal date wherein the customer can change the term of the CD.

All deposits are FDIC-insured up to $250,000. However, that will only cover one account type for one depositor. If you have multiple accounts that add up to more than $250,000, you may want to spread some of that capital across different financial institutions to reduce your risk.

Locations Truist Bank 

Truist Bank has more than 2,000 branches. These branches and ATMs have been accessible to both former BB&T and SunTrust clients since February 22, 2022​

Frequently Asked Questions